Agriculture Secretary Francisco Tiu Laurel Jr. said Jan. 10 that the maximum suggested retail price (MSRP) for imported rice will be set at P58 per kilo, starting Jan. 20.
This price was determined after extensive consultations with importers, retailers, rice industry stakeholders, as well as government agencies and law enforcement bodies, the Department of Agriculture said.
“This MSRP aims to strike a delicate balance between business sustainability and the welfare of consumers and farmers,” Laurel said in a statement. “We must ensure that the price of rice is fair and affordable, even as we make sure that the rice industry remains profitable. We cannot allow the greed of a few to jeopardize the well-being of an entire nation.”
He said the MSRP will be implemented initially in Metro Manila, and will be reviewed every month to take into account several factors, including the global price of the grain. “We think that if the current direction of global prices holds, the MSRP will be lower after the review.”
Trade and Industry Secretary Cristina Roque reaffirmed the DTI’s support for the DA’s push to lower rice prices for Filipino consumers.
“The DTI fully supports the DA in all its initiatives. We will help in the monitoring and enforcement of prices set by the DA,” she said.
In recent weeks, the DA held discussions with rice millers, traders, importers, retailers, and key government offices, including the DTI, Department of the Interior and Local Government, Department of Finance, and the Philippine National Police. The consultations focused on addressing persistently high rice prices, despite President Ferdinand Marcos Jr.’s rice tariff cuts and falling global prices.
Rice import volume reached a record 4.7 million metric tons in 2024 as falling prices and lower tariff created a disincentive for smugglers, allowing the market to more accurately reflect the volume of rice imported into the country.
“Based on our calculations, using data and profit margins provided by importers and retailers, imported five percent broken rice should not exceed P58 per kilo. For rice with a higher percentage of broken grains, the price should be much lower,” Laurel explained.
To provide Filipino consumers with affordable rice, Laurel also instructed the Food Terminals Inc., a government corporation under the DA, to begin selling rice through Kadiwa ng Pangulo centers and kiosks.
Rice options include five percent broken (RFA5) at P45 per kilo, 25 percent broken (RFA25) at P40, and 100 percent broken (RFA100), also known as Sulit Rice, at P36 per kilo.
The staple at the Kadiwa ng Pangulo stores is the P29-per-kilo rice, and being sold to vulnerable sector, such as the indigents, persons with disabilities, senior citizens, single parents, and indigenous people.
“Our warehouses are filled to capacity, and I have directed NFA administrator Larry Lacson to have the rice milled immediately so we could saturate the market with fairer-price rice as we make space for the palay we plan to procure at a minimum of P23 per kilo for clean and dry this season,” Laurel said, adding that this plan aims to stabilize rice prices while ensuring that consumers have access to affordable, high-quality rice. ||
